Definition for UMass Amherst PIs: Contracts, Grants, Gifts, Indirect Costs

Contracts

Contracts are the most formal type of award. Under a contract, the sponsor supports clearly defined activities. Characteristics include:

Normally bilateral
Specific deliverables are stipulated
Project performance is monitored by the sponsor
Technical reports are required
Detailed financial reports are required
Consequences for not delivering

Full indirect costs are assessed unless sponsor policy dictates otherwise. IPF must be filled out through ogca.

Grants

A financial assistance mechanism whereby money is provided to carry out approved activities. A grant is to be used whenever the awarding office anticipates no substantial programmatic involvement with the recipient during performance of the financially assisted activities.

Grants are made to UMA on behalf of faculty and staff to perform a specific project. The sponsor generally supports the project as outlined in a proposal. Grant characteristics include:

Project usually has stated goals and objectives, but work is undertaken on a "best effort" basis
The sponsor has expectations about how the funds will be spent
Grant deliverables may include formal project reports
A financial report is required

Full indirect costs are assessed unless sponsor policy dictates otherwise. IPF must be filled out through ogca.

Unrestricted Grants

Unrestricted grants may be awarded to a faculty member who is working in an area of interest to the external sponsor. These are normally awarded by a company check in the amount of the award and letter identifying the faculty member and general research area being funded. There are no timetables identified, no formal requirements for financial or technical reports and the sponsor makes no claim to any intellectual property rights that may result from projects supported by unrestricted grants.

Ex: Sponsor will issue a check for $1,000 to a specific faculty member to conduct research in his or her field with absolutely no strings attached:

No defined scope of work
No deliverables
No terms and conditions

Indirect costs are assessed at 10% of total costs. The award document, check and an IPF should be brought to OGCA for processing.

Gifts

Corporate and foundation GIFTS (vs. grants) include support that is completely unrestricted to the University, limited to a particular school or college within the University, and limited to a particular academic Department or Center. Corporate and Foundation gifts are handled by the Development Office.

Gift management fees from 1-8% are assessed.:

The fee applies to all cash gifts received toward current operations, capital projects and endowment. Excluded are grants and gifts in kind.

Indirect Cost Rates

Indirect cost rates vary according to the following factors:

Project type - Research; Instructional; or Other sponsored activities such as conference funding, short term workshops
Sponsor type - federal/industry/non-Massachusetts governmental agencies; foundations and non-profits; Commonwealth of Massachusetts and Local government agencies
Project location - on or off-campus
Sponsor mandated restrictions on indirect costs - provide a copy of sponsor guidelines or published policy to OGCA along with the proposal for review
Award type anticipated: unrestricted grant vs. restricted grant.

Source: http://www.umass.edu/research/ogca/proceds/propnote.htm




Definition for UMass Amherst PIs: Contracts, Grants, Gifts, Indirect Costs Contracts Contracts are the most formal type of award. Under a contract, the sponsor supports clearly defined activities. Characteristics include: Normally bilateral Specific deliverables are stipulated Project performance is monitored by the sponsor Technical reports are required Detailed financial reports are required Consequences for not delivering Full indirect costs are assessed unless sponsor policy dictates otherwise. IPF must be filled out through ogca. Grants A financial assistance mechanism whereby money is provided to carry out approved activities. A grant is to be used whenever the awarding office anticipates no substantial programmatic involvement with the recipient during performance of the financially assisted activities. Grants are made to UMA on behalf of faculty and staff to perform a specific project. The sponsor generally supports the project as outlined in a proposal. Grant characteristics include: Project usually has stated goals and objectives, but work is undertaken on a "best effort" basis The sponsor has expectations about how the funds will be spent Grant deliverables may include formal project reports A financial report is required Full indirect costs are assessed unless sponsor policy dictates otherwise. IPF must be filled out through ogca. Unrestricted Grants Unrestricted grants may be awarded to a faculty member who is working in an area of interest to the external sponsor. These are normally awarded by a company check in the amount of the award and letter identifying the faculty member and general research area being funded. There are no timetables identified, no formal requirements for financial or technical reports and the sponsor makes no claim to any intellectual property rights that may result from projects supported by unrestricted grants. Ex: Sponsor will issue a check for $1,000 to a specific faculty member to conduct research in his or her field with absolutely no strings attached: No defined scope of work No deliverables No terms and conditions Indirect costs are assessed at 10% of total costs. The award document, check and an IPF should be brought to OGCA for processing. Gifts Corporate and foundation GIFTS (vs. grants) include support that is completely unrestricted to the University, limited to a particular school or college within the University, and limited to a particular academic Department or Center. Corporate and Foundation gifts are handled by the Development Office. Gift management fees from 1-8% are assessed.: The fee applies to all cash gifts received toward current operations, capital projects and endowment. Excluded are grants and gifts in kind. Indirect Cost Rates Indirect cost rates vary according to the following factors: Project type - Research; Instructional; or Other sponsored activities such as conference funding, short term workshops Sponsor type - federal/industry/non-Massachusetts governmental agencies; foundations and non-profits; Commonwealth of Massachusetts and Local government agencies Project location - on or off-campus Sponsor mandated restrictions on indirect costs - provide a copy of sponsor guidelines or published policy to OGCA along with the proposal for review Award type anticipated: unrestricted grant vs. restricted grant. Source: http://www.umass.edu/research/ogca/proceds/propnote.htm


© University of Massachusetts Amherst. Site Policies. This page is maintained by the Office of the Vice Provost for Research.